This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RIM Beats Revenue, Earnings Estimates

NEW YORK ( TheStreet) -- Research In Motion (RIMM) beat third quarter top- and bottom-line estimates Thursday on strong sales of its Blackberry smartphones, pushing the stock up 3.8% in after-hours trading.

Profit jumped to $1.74 per share from $1.10 cents per share during the year-ago period. Analysts had expected the company to post earnings of $1.64 per share.


Revenue rose 40% over the same quarter last year to $5.5 billion, and ahead of analysts expectations of $5.4 billion.

The company reported smartphone shipments of 14.2 million, slightly better than analyst estimates of 14 million.

RIM said 5.1 million new Blackberry subscriber accounts were added in the quarter, bringing the overall subscriber base to 55 million.

Going forward, RIM expects profit in the range of $1.74 to $1.80 per share, and revenue in the range of $5.5 billion to $5.7 billion for the fourth quarter.

Analysts had anticipated earnings to dip to $1.60 per share on sales of $5.47 billion in the February quarter.

RIM has come under pressure lately as devices like Apple's (AAPL) iPhone and Google's (GOOG) Android have surged in popularity.

Installations of RIM's operating system dropped in the third quarter from 28% to 22%, according to industry tracker NPD Group, as the iPhone and Android-based phones took away market share.

RIM was downgraded twice this month, as Gleacher & Co lowered its rating from buy to neutral and CLSA cut its rating from buy to underperform, citing competitive threats in the smartphone market.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%
YHOO $44.45 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs